ELG (inc. IBRC)
About the Scheme
The Credit Institutions (Eligible Liabilities Guarantee) Scheme 2009 (the “ELG Scheme”) was made pursuant to Section 6(4) of the Credit Institutions (Financial Support) Act 2008 and came into effect on 9 December 2009. The ELG Scheme provided for an unconditional and irrevocable State guarantee for certain eligible liabilities (including deposits) of up to five years in maturity incurred by participating institutions from the date they joined the scheme until the closure of the Scheme on certain terms and conditions. Each participating institution was bound by the Rules of the ELG Scheme (417 KB, PDF format). The NTMA was appointed by the Minister for Finance as the ELG Scheme Operator.
As of the 29th March 2018 there are no remaining liabilities guaranteed under the ELG Scheme, with the exception of those resultant from the liquidation of IBRC.
IBRC
The Minister for Finance has stated that the Special Liquidation of IBRC is on track to substantially conclude by the end of 2024. The IBRC Special Liquidators continue to engage with unsecured creditors. Any remaining deposit holders who have deposits in Anglo Irish Bank or Irish Nationwide Building Society which were transferred to IBRC should contact the IBRC Special Liquidators before the conclusion of the liquidation, to reclaim their funds. The NTMA is no longer accepting new claims under the ELG Scheme as any valid claims are being processed directly by the liquidator.
ELG Scheme Helpline
If your query is not addressed, please phone the NTMA on +353 (0)1 238 4000 or email your query to info@ntma.ie.
IBRC customers who have queries regarding their deposits can contact IBRC at SMUOperations@ibrc.ie